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3 min read 28.02.2022 260
Ibrahim Busari
Ibrahim Busari
Ibrahim is a fintech writer at AskWallet
Best Cryptocurrency Trading Apps

Best Cryptocurrency Trading Apps

Trading cryptocurrencies, like buying and selling regular stocks, can seem overwhelming if you don’t know where to start. But choosing the right cryptocurrency trading app makes all the difference in keeping your trades organized and secure, which is why we’ve compiled this list of the best crypto trading apps on the market today!

What is a Cryptocurrency Trading App

For many cryptocurrency investors, exchanges serve as an entryway into a new world. While some people may be content with simply owning digital currency, others are actively seeking other opportunities. After all, these currencies are now commodities and can be traded like any other. That’s where cryptocurrency trading apps come in handy. Whether you’re a beginner or an experienced trader, there’s no denying that a cryptocurrency trading app can improve your investment portfolio and overall experience in the market.  Before we take a look at some of them and how they stack up against each other? Let's see what they have in common? 

All of these apps offer a combination of exchange, social, and portfolio tools to get you started on your cryptocurrency trading journey. While some platforms are more comprehensive than others, all share one similar trait: They help make investing in cryptocurrency much easier. This is especially true for newbies who aren’t exactly crypto-savvy yet. And when it comes down to it, that’s what you really need from a good trading app—easy access and transparent information on cryptocurrencies. Otherwise, what’s the point? That’s why we at AskWallet have decided to do some research and compare some of today’s top cryptocurrency trading apps. To make a fair comparison, we’ve compiled a list of features that make up a good trading app. 

How To Trade Cryptocurrencies

You’ll need a cryptocurrency wallet and somewhere to trade them. So you can start trading quickly and safely. It’s also important that you understand how fees are charged and currency is stored on each exchange. When trading cryptocurrencies, always follow good security practices like enabling two-factor authentication (2FA), keeping your personal information private by encrypting it, or placing it in a vault that only you have access to (although keep in mind there is still risk even with 2FA as key loggers have been known not just to be installed on computers but mobile phones too), and using strong passwords that are regularly changed.

How do Cryptocurrency Trading Apps work?

A cryptocurrency trading app functions as a middleman — a brokerage business – between a buyer and a seller of cryptocurrency. It enables a buyer to deposit funds using a variety of ways such as direct bank transfer, UPI, debit or credit cards, and so on. It charges a fixed commission or fee for each transaction completed through its services. The price at which a customer buys digital currency is called ‘buy rate’ while that at which he sells it is known as ‘sell rate’. The difference between buying and selling rates is how brokers make money from customers' transactions.


 

ABCs of Choosing a Good Cryptocurrency App

However, with several apps available in the nascent market it can be difficult to choose an appropriate one. Here are some ABCs you should keep in mind before choosing one: 

  • Accuracy:
    One thing every trader wants from his trading platform is accurate information when it comes to prices, volumes, etc. The good news is that all apps mentioned above offer live charts and other relevant data. 
     
  • Liquidity (for OTC transactions)
    Concerning liquidity and volume if all cryptocurrency trading app providers offer similar services for over-the-counter deals (OTC). 
     
  • Ease of Use
    Almost all cryptocurrency trading platforms enable traders to use web-based dashboards. A majority also have mobile applications as well which enable traders to trade on go by keeping tabs on price movements and executing orders on their smartphones or tablets. 
     
  • Regulation/Compliance
    Cryptocurrency exchanges need to abide by many regulatory and compliance requirements just like any traditional stock exchange does. Before signing up with an app make sure it meets your regulatory needs. Also, review its terms & conditions properly – never invest money in something if you don't understand how things work there! 
     
  • Support/Helpdesk (if any)
    Any reputed cryptocurrency trading platform must have a dedicated helpdesk so customers can get help if needed at any time of day or night via email, phone call, or social media. Such support allows them quick solutions without much waiting time which is crucial since markets are 24x7! If they don't allow withdrawals instantly then I would say opt for another exchange instead!

Top Trading App


Binance

Binance is a cryptocurrency exchange based in China and was launched in 2017. Binance claims to have over 10 million users on its platform, making it one of the most popular crypto exchanges out there. The company’s founder and CEO, Changpeng Zhao is also one of crypto’s biggest supporters having invested in numerous blockchain projects. He likes to refer to Binance as the people’s exchange because he believes that everyone should be able to participate in creating a free and fair financial world for all. 

Though Binance isn’t an app with built-in functionality, it is worth mentioning due to its incredible popularity and user base. In terms of trading options, you will find support for multiple cryptocurrencies including; BTC, ETH, LTC, NEO, and many more besides. You can trade pairs from various major fiat currencies too (USD/EUR/JPY), so no matter where you are based you can use Binance to buy or sell altcoins quickly and easily.
 

eToro

eToro is a popular cryptocurrency trading platform that allows you to invest in multiple cryptocurrencies at once. The company was founded in 2007 and has since become one of Europe’s largest brokers for CFDs (contracts for difference). It doesn’t have an app as such, but it does offer users a dedicated section on its website where they can view their crypto holdings. eToro offers support for 13 different cryptocurrencies; BTC, ETH, BCH, LTC, XRP, DASH, EOS, NEO, and ZEC.  

You can use it to trade pairs from various major fiat currencies too (USD/EUR/GBP), so no matter where you are based you can buy or sell altcoins quickly and easily. In terms of trading options, eToro isn’t bad either. You will find support for more than 200 markets in total including stocks, commodities, forex pairs, and many more besides; although there are sometimes limits depending on your account type which restrict how much you can trade daily or weekly.
 

Kraken

Kraken is another cryptocurrency trading platform you may want to consider trying. The company was founded in 2011 and has since become one of crypto’s most trusted and well-known exchanges. In 2014, Kraken added support for many different cryptocurrencies (including XRP, ZEC, XMR, ETH, BCH, and others) and has continued to do so ever since. 

It’s an ideal choice if you want total control over how you trade on an exchange as it offers you more than 300 cryptocurrencies pairs with support for pairs from various major fiat currencies too (USD/EUR/GBP). For example; BTC/JPY or ETH/CAD. One feature that sets Kraken apart from some other top crypto exchanges out there today is its deep liquidity pool. This means that you can usually find buy/sell opportunities even during times when fewer people are actively buying or selling altcoins. 
 

Coinbase

Coinbase is arguably one of the world’s biggest cryptocurrency platforms today and lets users buy, sell, store, send, receive and trade numerous cryptocurrencies including Bitcoin, Ethereum Classic, Litecoin, and many more besides. The company was founded in 2012 and quickly became a global player when it comes to crypto exchanges. 

The exchange is run by its dedicated team but also has backing from some major venture capital firms; such as Andressen Horowitz, Union Square Ventures, and others too. It isn’t hard to see why Coinbase has done so well either as they offer some unique features not available on all other exchanges out there today. For example; you can purchase gift cards with your funds (with support for an ever-growing list of outlets), your coins are protected with built-in insurance protection if they get lost or stolen, and you can use it as a go-to payment service thanks to its integration with PayPal for U.S.-based users.
 

Crypto

Crypto.com is a globally known cryptocurrency center with a cryptocurrency-powered environment. The payment business offers a plethora of options, including a metal VISA card, a non-custodial wallet, rapid loans, NFT, and many others. Despite the fact that the firm was created in 2016, it still has a lot to offer its people all around the world. Its website is easy to use by anyone; meaning no additional instructions are needed for you or your clients, who may not be familiar with crypto either. It even allows you to create new wallets for yourself or start managing your own ERC20 tokens within minutes after creating a free account online through their site or through their mobile app, which can be downloaded on both Android devices and iPhones alike. Whether you’re someone who wants more functionality when using cryptocurrencies themselves or if you simply want better ways to convert them into fiat currency; having access to multiple services at once gives users flexibility as well as power when they're spending/converting money via crypto.
 

BitPay

BitPay is a global bitcoin payment service provider that lets users pay with bitcoin and receive payments in their local currency, including fiat. Founded in 2011 by Tony Gallippi and Stephen Pair, BitPay’s main purpose was to streamline bitcoin purchases for merchants; making it easier for people who accept BTC payments to automatically convert them into U.S. dollars (or whichever fiat currency they may use). While most of its features are geared towards merchants, consumers who don’t want their purchases converted can also use BitPay as a go-to payment system due to it also offering support for buying/selling crypto from within its platform itself.
 

Uphold

Uphold was founded back in 2014 and is a global crypto platform that’s run by its own dedicated team, who are also responsible for maintaining it as well. It provides users with a plethora of payment services; including allowing you to convert fiat currency into cryptocurrency (or vice versa), invest in ICOs or hedge funds, etc. 

A U.S.-based company, Uphold allows people from all around the world to have access to its services and has partnerships with some of the biggest names in finance today; including PayPal, Visa, Mastercard, and others too. With such extensive support and good business growth behind it already, you can be sure that Uphold will be here for years to come.
 

Top Cryptocurrency Friendly Apps


Ibandirect

Ibandirect is a mobile trading app designed for individual investors. Through IB and its mobile apps, you can trade currencies through a Forex account directly on your device, in real-time. Ibandirect also allows you to buy and sell cryptocurrency straight to your IBAN, as well as use your Prepaid Card to withdraw cash from any ATM or make purchases at any business that takes Visa. 
 

Mercuryo

This app allows you to trade your Bitcoin and altcoins directly through your bank account. Users can make fiat deposits, instantly trade coins, and sell digital assets without tying up their cryptocurrency in a transaction.
 

Crypterium

Crypterium is a mobile banking app that allows you to spend and transfer money in cryptocurrencies. It also supports instant cryptocurrency trading in an easy-to-use interface. Crypterium's SDK program also assists businesses in monetizing their audience by delivering world-class crypto, banking, and VISA card issuing services.
 

Celsius 

Celsius is a platform for borrowing and lending cryptocurrencies, such as Bitcoin. You can earn interest on your cryptocurrency or borrow from others to meet your financial goals. The platform offers three main services: buying and selling cryptocurrencies, secured lending with interest to those who have, and personalized credit limits based on users’ trading history. All members’ activities and transactions are recorded on a public ledger. 

Credit scores are built using user data, artificial intelligence algorithms, and machine learning models with traditional credit-reporting data; therefore users do not need their own banking system to use Celsius features. Members need only an email address to start using its platform. CEL tokens are ERC20 Ethereum-based tokens that enable members to buy CEL dollars and lend them out at an interest rate of 0%-5%. 
 

Nuri

Users may combine their bank account with Bitcoin and Ethereum cryptocurrency wallets using Nuri. You may also use the free Nuri debit card to spend cryptocurrencies. This is the future generation bank, in which Nuri connects bank accounts to the decentralized world of blockchain and cryptocurrencies. The app enables users to buy or sell Bitcoin, Ethereum, or Litecoin directly from their bank account in a few steps. 

Also included on Nuri are real-time portfolio and market value data, conversion tools as well as support for all major altcoins. The transactions can be made at any time 24/7 365 days a year anywhere on mobile phone or tablet via iOS and Android apps. Moreover, you have full control over your funds being processed within minutes after transaction confirmation by supporting confirmations network.
 

Trastra

Trastra offers a large selection of cryptocurrencies for clients. The platform aims to provide traditional banking services with modern cryptocurrency support, thereby combining what is best in both worlds. The app enables users to send and receive money across borders in up to 16 currencies at rates much lower than competitors’. 

Furthermore, Trastra supports online purchases as well as bank transfers, which are charged at no more than 0.75% per transaction. The app also allows you to buy and sell cryptocurrency directly from your bank account or debit card without fees or registration requirements.
 

Foldapp

Fold is a blockchain-based money transfer and exchange platform. This app allows you to hold any major currency in your wallet. The application converts all of your cryptocurrencies into one unified currency, which can be sent worldwide instantly to any bank account or mobile phone number. 

Fold’s decentralized exchange platform lets you buy and sell cryptocurrency, while also supporting fiat currencies, such as USD and EURO. You may send money from one country to another, no matter how small or large it is within minutes. Additionally, Fold has partnered with Visa and MasterCard so users can use their credit cards directly for purchases without fees or foreign currency exchange charges at any time of day in all countries supported by both credit cards.

Conclusion

While there are hundreds of cryptocurrencies available to trade, there’s really only a handful of exchanges where you can do so. You should carefully consider your experience level and risk appetite before choosing an exchange that meets your needs. It’s also important to understand that exchanges change all of their fees from time to time so it is a good idea to regularly check with exchange websites for updates on their rates. This post isn’t meant to be an exhaustive list, but hopefully, it has provided some insight into these top cryptocurrency trading apps, allowing you to easily compare them side-by-side. No matter which cryptocurrency trading app you choose, remember to practice safe market habits and always double-check your trades if using leverage!